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Loncor Gold Inc T.LN

Alternate Symbol(s):  LONCF

Loncor Gold Inc. is a Canadian gold exploration company. The Company is focused on projects within an approximately 480 square kilometers (km2) area on the Ngayu Greenstone Belt in the Northeast of The Democratic Republic of the Congo (the DRC). The area is located over 220 kilometers southwest of the Kibali gold mine, which is operated by Barrick Gold (Congo) SARL. It owns or controls a contiguous block of 46 exploration permits covering an area of over 13,000 km2 to the northwest of Lake Edward in North Kivu province. The Adumbi gold deposit is found within the Company’s 84.68% owned Imbo Project area. At the Imbo Project, the Adumbi deposit holds an indicated mineral resource of 1.88 million ounces of gold, and the Adumbi deposit and two neighboring deposits hold an inferred mineral resource of approximately 2.090 million ounces of gold with 84.68% of these resources being attributable to the Company.


TSX:LN - Post by User

Comment by nozzpackon Nov 17, 2021 4:59am
48 Views
Post# 34134923

RE:Loncor has the attention of Major Gold Miners

RE:Loncor has the attention of Major Gold MinersResolute owns 23% and Kondradt owns 24%.

Resolute has a substantial debt overhang.
Kondradt is a senior and has spruced up his project less shell company.
They have just made a major presentation in Beijing and New York, and London will be next in a few days .

AGAC , the SPAC with oodles of cash and looking for an African gold deposit, resides in New York.

So, it is abundantly clear that Adumbi is being shopped around to the highest bidder.
It's pretty obvious too , that cash from that sale will be returned to shareholders as return of capital .

That leaves the special projects like Makapela and a massive land position as an ideal spin out to shareholders , perhaps using Kondradt 'S shell company as the public listing.

Such cash and a gem like Makapela will make a great asset that will transform Resolute mining from debt laden to asset rich.

Kondradt, near retirement gets his sunset dream come through.

The STATE also gets to monetize its 14% while holding NewCo as another gold asset with outstanding chances of being another Adumbi.


Just my opinion, but always follow the money..
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